In addition to the collaboration and license agreement, Sanofi will invest €300 million in Innovent through the subscription of new common shares
Innovent Biologics, a world-class biopharmaceutical company that develops, manufactures and commercialises high-quality medicines for the treatment of cancer, metabolic, autoimmune and other major diseases, and Sanofi announced a collaboration to bring innovative medicines to patients in China with difficult-to-treat cancers. Both companies are committed to accelerating the development and commercialisation of two Sanofi key clinical-stage oncology assets: Phase III SAR408701 (tusamitamab ravtansine; anti-CEACAM5 antibody-drug conjugate) and Phase II SAR444245 (non-alpha IL-2), combining with sintilimab, the leading checkpoint inhibitor in China.
In addition to the collaboration and license agreement, Sanofi will invest €300 million in Innovent through the subscription of new common shares.
Dr Michael Yu, Founder, Chairman and CEO of Innovent, stated, “This strategic collaboration with Sanofi, a leading global pharmaceutical company, opens the pathway to great synergy for accelerating the pace of innovation. This pioneering partnership will leverage the synergy between Sanofi and Innovent’s pipeline and R&D resources with the mutual aim to address major unmet medical needs for cancer patients. We hope this agreement will be a great start to the two parties’ long-term partnership, and we look forward to bringing more innovative therapies to patients.”
Dr John Reed, Global Head of Research and Development at Sanofi, stated,” This strategic collaboration with Innovent will not only accelerate the development, market access and future commercialization of two of our key oncology medicines in selected combinations with sintilimab, but also bolster our overall presence in oncology in China. We look forward to a successful partnership with Innovent, one of the most innovative companies in China, and to leveraging their development capabilities and market leadership in the country.”